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Page last updated at 07:38 GMT, Monday, 12 October 2009 08:38 UK

Mandelson: Asset sale 'sensible'

Gordon Brown is making a speech in the City explaining why he thinks his approach to Britain's deficit is the right one.

He will argue that growth is the key to reducing government borrowing, and that cutting spending will be self-defeating as it threatens to reduce growth. Even more eye-catching in the speech is the commitment to reduce the stock of debt, by selling state assets.

First Secretary Lord Mandelson discusses whether Labour policy on the economy is the right one.

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